Tag: product suitability

Product suitability obligation and intervention powers to be fast-tracked: Government responds to calls for Royal Commission into the banks

By Zein El Hassan (AU) and Matthew Ellis (AU) on April 20, 2016 Posted in Australia, Banking, Financial advice, Funds management, General, Insurance, Market integrity and misconduct, Regulators, Superannuation

In response to Opposition calls for a Royal Commission into the banking sector, the Australian Government has announced a $127 million reform package aimed at increasing the powers of Australia’s corporate watchdog, ASIC. A key component of that package will be the accelerated implementation of two key recommendations of the Financial System Inquiry: an obligation on … Continue Reading

LexBlog